McEwen Mining (NYSE:MUX) Upgraded at StockNews.com

StockNews.com upgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other brokerages have also recently issued reports on MUX. National Bank Financial upgraded shares of McEwen Mining to a “strong-buy” rating in a report on Tuesday, April 29th. HC Wainwright cut their price target on McEwen Mining from $18.00 to $15.50 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Roth Mkm lowered their price objective on McEwen Mining from $13.00 to $12.50 and set a “buy” rating for the company in a research note on Friday, March 21st.

McEwen Mining Trading Down 0.2%

Shares of McEwen Mining stock opened at $7.15 on Wednesday. The stock has a market capitalization of $385.74 million, a PE ratio of 3.26 and a beta of 0.93. McEwen Mining has a 52 week low of $6.38 and a 52 week high of $12.45. The stock has a 50 day moving average price of $7.60 and a two-hundred day moving average price of $7.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $39.06 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. As a group, equities analysts anticipate that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MUX. Empowered Funds LLC bought a new stake in McEwen Mining in the 4th quarter worth about $788,000. Private Advisor Group LLC increased its position in shares of McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 2,000 shares during the last quarter. Sprott Inc. bought a new stake in McEwen Mining during the fourth quarter worth $100,000. U S Global Investors Inc. purchased a new position in McEwen Mining in the fourth quarter worth $2,557,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in McEwen Mining by 1.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company’s stock valued at $3,103,000 after purchasing an additional 5,800 shares during the period. 17.03% of the stock is owned by institutional investors.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.